Everus Construction Group (NYSE:ECG) Stock Price Down 5.3% on Analyst Downgrade

Everus Construction Group, Inc. (NYSE:ECG) shares dropped 5.3% during mid-day trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $86.18 and last traded at $86.8220. Approximately 74,390 shares were traded during trading, a decline of 75% from the average daily volume of 302,526 shares. The stock had previously closed at $91.69.

A number of other equities analysts also recently commented on the company. Oppenheimer restated an “outperform” rating and set a $105.00 target price on shares of Everus Construction Group in a report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Everus Construction Group in a research report on Wednesday, October 8th. Stifel Nicolaus upped their price objective on shares of Everus Construction Group from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. DA Davidson set a $102.00 target price on shares of Everus Construction Group in a research note on Thursday, November 6th. Finally, Wall Street Zen raised shares of Everus Construction Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Everus Construction Group presently has an average rating of “Hold” and an average price target of $100.33.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ECG. Geneos Wealth Management Inc. grew its stake in shares of Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. Signaturefd LLC boosted its stake in Everus Construction Group by 91.6% in the 2nd quarter. Signaturefd LLC now owns 435 shares of the company’s stock worth $28,000 after purchasing an additional 208 shares in the last quarter. Bessemer Group Inc. grew its position in Everus Construction Group by 68.2% during the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock valued at $29,000 after purchasing an additional 137 shares during the last quarter. Country Trust Bank bought a new stake in Everus Construction Group during the 2nd quarter valued at about $31,000. Finally, Salomon & Ludwin LLC bought a new stake in Everus Construction Group during the 3rd quarter valued at about $33,000.

Everus Construction Group Price Performance

The firm’s fifty day simple moving average is $90.41 and its 200-day simple moving average is $81.28. The firm has a market capitalization of $4.46 billion, a PE ratio of 24.77 and a beta of 3.84. The company has a quick ratio of 1.69, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.49. Everus Construction Group had a net margin of 5.18% and a return on equity of 36.74%. The firm had revenue of $986.82 million for the quarter, compared to analysts’ expectations of $830.60 million. During the same quarter in the prior year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. On average, research analysts forecast that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

About Everus Construction Group

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.